MP pushes for annual review into stamp duty cut for second homes

Last night in Parliament, Tim Farron put forward an amendment which would force the Chancellor to publish an annual review into the impact of the Government's stamp duty cut on second homes in National Parks and Areas of Outstanding Natural Beauty.

The Government introduced the cut in an attempt to make it easier for people to get on the housing ladder but that are fears that it could also make it more attractive for people to buy second homes in places like the Lake District.

Speaking during a debate on the Stamp Duty Land Tax Bill in the House of Commons, Tim said: "The Government know what is happening. The evidence is before their eyes: their temporary stamp duty cut in 2020, a well-intentioned attempt to boost the economy at the beginning of the pandemic, had the immediately negative consequence of hollowing out communities in my area in Cumbria and in Northumberland, the west country and other parts of the UK.

"I am not theorising; it has already happened. My communities were badly hit by a well-intentioned but foolish Government policy. Why would the Government not accept new clause 3, which would allow them to do something about a policy that is positive on the whole, but that they know has a negative consequence on communities such as mine?"

However Tim's amendment was voted down by Conservative MPs, by 310 votes to 14.

Speaking after the vote, Tim said: "It's disappointing but unsurprising that the Conservatives' voted against my amendment to ensure a robust yearly review of the impact these second homes are having in National Parks and Areas of Outstanding Natural Beauty.

"Conservative MPs are choosing to put profit over people once again. The Government's plans are going to invite swathes of second home owners to buy up available properties and either rent them out as holiday lets or leave them empty for half the year.

"My amendment would have forced the Government to be transparent about how many people were using the stamp duty reduction to purchase second homes, allowing us to assess the impact on the local community which is already being driven out."